Drivers in Lansing are seeing relief at the pump, with gas prices averaging $2.77 per gallon — about 36 cents lower than this time last year, according to GasBuddy data.
"It definitely makes a big difference," a local resident said.
The price drop comes as President Donald Trump announced plans for the U.S. to take control of Venezuela, a country with massive oil reserves. However, experts say any impact on gas prices won't be immediate.
"There's going to be no major increase in Venezuelan oil outputs any time soon," said Jason Miller, a supply chain professor at Michigan State University.
Miller explained that Venezuela's oil infrastructure lacks the capacity to pump millions of barrels of oil needed to significantly impact global markets. According to the U.S. Energy Information Administration, the U.S. consumes more than 20 million barrels of oil daily.
Trump outlined his strategy during a meeting with oil executives Friday, asking them to invest in rebuilding Venezuela's oil infrastructure.
"These great American companies can help rapidly rebuild Venezuela's dilapidated oil industry and bring millions of barrels of oil production to benefit the United States, the people of Venezuela and the entire world," Trump said.
Miller said even if companies agree to invest, the process would require substantial time and money before Venezuela could reach significant production levels.
"So in the near time, by the next few months, there's very little impact," Miller said.
For now, drivers like Tammy are simply enjoying the current savings.
"Anytime gas is down it helps my bottom line," she said.
This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
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